Energy
Serbia’s electricity market shifts under CBAM: exports shrink, liquidity moves and prices localise
In Q1 2026, Serbia’s day-ahead prices stayed well below EU levels, but CBAM-linked carbon costs broke the arbitrage that previously supported exports. The result is export…
Negative power prices arrive in Serbia, underscoring the shift toward flexibility-driven electricity markets
Serbia is set to allow negative prices on the day-ahead SEEPEX market from early May, reflecting growing periods of renewable oversupply. While flexible industrial demand may…
Serbia’s macro-financial stress test hinges on NIS: energy security meets sanctions risk
Serbia’s most immediate macro-financial vulnerability is concentrated in energy, with NIS at the center of unresolved ownership and sanctions exposure. Because NIS runs the country’s only…
Serbia–Azerbaijan partnership reshapes gas supply routes into the Balkans
Serbia’s growing link to Azerbaijan gas—via the Bulgaria–Serbia interconnector feeding the Southern Gas Corridor—adds a new, longer-term supply vector as the region moves beyond Russian pipeline…
Negative electricity prices in Serbia signal a shift toward flexibility-led power economics
Negative wholesale electricity prices are appearing in Serbia as surplus solar and wind generation increasingly pushes supply above demand. The change is reshaping who benefits—from flexible…
Serbia’s strategic value rises as Southeastern Europe’s energy corridors take shape
A new report argues Serbia is becoming a structurally important inland node as regional gas and oil flows shift away from Russian pipeline dependence toward corridor-based…
Serbia becomes a focal point for the EU’s push to scale power purchase agreements
A European Commission recommendation aimed at accelerating power purchase agreements is starting to shift how long-term energy projects are financed across South-East Europe, with Serbia positioned…
Serbia’s wind sector enters a market-exposure era as volatility reshapes project value
Serbia’s first wave of wind farms—supported by feed-in tariffs and stable project finance—delivered strong margins and debt service. Now, as the power system integrates more renewables…
EMS signs contract to upgrade Bajina Bašta substation to 400 kV
Serbia’s transmission operator ElektromreĹľa Srbije (EMS) has contracted the expansion of the Bajina Bašta substation from 220/35 kV to a 400/220/35 kV configuration, alongside upgrades at…
Serbia’s transmission grid enters a new phase as renewables surge and market rules expose bottlenecks
Serbia’s power system is shifting from a thermally stable network to a more flexible, cross-border role as renewable projects pile into the connection queue. But with…